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, but you do. glad you're here tonight. after it came out in spain, now it's just come out october 1st here in the states, and i changed a bunch of stuff, a lot of the stuff changed was john's idea. he said, and he was absolutely right saying this chapter here, i don't think anyone's going to understand it, and he also made wonderful suggestions, and so we took a chapter out and put it in after wards, what it was like to get out of diplomatic service and go to rutgers university where i've been ever since as a professor, and in the very late 60s, early 70s, i went there in 69, and i'm still there, and i was supposed to go to vietnam as a culture, and i thought it was a stupid idea, and i had three little children i was not going to abandon that i i thought was not a good war. there's two stories i want to focus on this evening. one is about the day i spent alone with martin luther king in madrid of all places, and the other one is about one of the really terrible events of the cold war which is when the united states ended up dropping four hydrogen bombs on spain. luckily, unarmed, and not
. tonya page, al jazeera, south africa. >> almost 6 million people in spain are out of work as the honorable mayor rate hit 26.2% at the end of last year. -- as the unemployment rate hit 26.2% at the end of last year. in may 20 -- in may 2007, unemployment was low at 7.9%. since the global recession can -- began gaining most mentum, -- began gaining momentum, it is rising. 18 months level -- 18 months later, it reached 20% rate by june last year, one-fourth of people in spain were unemployed. joe granville is head of trading at a company and he says there are few signs the economy will improve any time soon in spain. >> economic situation in spain is very grave. every company is in contract in mode, so there are no jobs being created. all the businesses are trying to shrink their jobs on top of the government trying to rein back spending, so a lot of state jobs are being shed. it does not look promising. what is really bad is unemployment at 60%. that is people under 25. that is causing concern if for any future growth. spain has serious issues, and i do not see any respite
countries: ireland, then portugal, now spain and cyprus, and reaching italy, uh, and has mutated from a strictly sovereign-debt government crisis to a banking crisis and sort of sectoral crisis. >> the origins of the european debt crisis are multiple. the approximate cause was the fact that many countries recently have had a large increase in budget deficits and there's lots of public debt to levels that are unsustainable. in some countries this was due to bad fiscal behavior, too much spending, too little taxes like in greece, but in other parts of the eurozone, like spain or ireland, the problem was that there was a bubble in real estate and housing. when the bubble burst, the countries went into a recession. when there is a recession your deficit increase, then you have to bail out banks, financial institutions, and the private losses get socialized. it happened in the u.s. and then you have a surge of public debt. >> these bubbles, either in government spending or in the banks or in the property sector, were essentially fueled by what tends to always drive crises in human history,
. portuguese patients often have no choice but to look for help in the neighboring country, spain. >> it is sunday afternoon, and the emergency services are working flat out at the health center. over 100 patients come over from nearby portugal every month. this doctor has been working here for years. >> i have worked in portugal as well. i found out that patients had to drive 30 kilometers with a cut wound because there was no doctor to treat them. >> only a river separates the city from its neighbor in portugal. health care has become more expensive in portugal now that patients have to pay extra for doctor's visits and medication. they also have to put up with long waiting times. >> i came for the results of my blood tests. i had to pay five euros for just a piece of paper. >> people have to wait, and some do not even make it to their operation date. than a year or two, six months, it depends -- some people go to spain -- >> a year or two, six months, it depends -- some people go to spain. my daughter went to spain for treatment. >> many defiantly waved spanish flags. the portu
reads anymore or very few do but you do so i am glad you are here tonight. after it came out in spain, in spanish, the university of balenciaga came out and told the first comma here to stay. it changes a bunch of stuff. lot of stuff it change was john's idea. and he was absolutely right. this chapter here i don't think anyone will understand it and also made some wonderful suggestions and so we took a chapter out and i put in an afterword, what would like to get out of diplomatic service and ando cf1 o get out of diplomatic service and and go to rutgers university where i have been ever since as a professor in the 60s or 70s where i went in 69 and i am still there and i was supposed to go to vietnam as a u.s. cultural attache from vietnam and i fought the war was a stupid idea and i had three little children and didn't want to abandon them to a war i di id't believe in. i left the diplomatic service. four years before that were the years in spain. two stories i want to focus on this evening. one is about the day i spent alone with martin luther king in madrid of all places and the ot
of our top stories from 2012. spain -- wide business is booming. armenia -- why chess is compulsory in schools. and ireland -- why deserters had to wait decades to be pardoned. eu leaders met to discuss how much solidarity they were prepared to show with the weakest members of the eurozone. in the end, the you chose not to abandon them, but greece continues to have to make drastic cuts, leaving marks that are visible throughout the country, including a long one of the world's most famous routes -- along one of the world's most famous routes. ♪ >> at precisely 42,195 meters long, this is the route that has become the standard for all marathon runners. the course was inspired by a 2500-year old myth, only today it is run on asphalt along with the capital's main roads. this is the bay where it said the legendary battle took place in 490 bc. it marked the first greek victory over the persians. according to legend, the athenian warriors gathered in a phalanx formation and managed to fight off a persian invasion. then a messenger ran the 42- kilometer distance to athens with news of the
that the worst of the year of crisis has passed. today in spain, there's a reminder that things are very bad still for millions of people. revenue figures show spain sank even deeper into recession in the final quarter of last year with the economy contracting faster than ever. more than one in four spaniards are already out of a job, and new figures suggest that unemployment could get even worse. >> people in spain have been tightening their belts for months now, but it does not seem to be working. the crisis there is more acute than ever as the economy continues to decline. gdp has fallen for the sixth quarter in a row. most recently, by 0.7%. the outlook is bleak. the prime minister is trying to buck the trend. he told parliament he was planning a new stimulus package. he hopes in particular to ease the tax burden on export-driven businesses. >> we are going to implement structural reforms with even greater force and adopt new measures to stimulate growth. our priority is to reduce youth unemployment, and we are already cooperating with unions and businesses to achieve this. >> there's mo
headlines from around the world. >> spain sees a bigger than expected gdp decline in the fourth quarter. one of the most indebted regions asking madrid for more than nine million euros. >>> roche strides lower after posting solid earnings on strong sales of its cancer medicine. analysts warn about the loss of exclusive rights to a key chemotherapy drug. >>> game over for super mario and friend to turn a profit. nintendo unexpectedly swings to its full-year forecast to a loss showing a poor uptake for its wii u consoles. >>> see you in september. australia's prime minister sets a surprise election date saying it will create certainty for business. >>> okay. welcome to today's program. and you know, we spent all that time waiting for five. today it's about the ten. >> how long did it take you to come up with that? >> about ten seconds ago. >> very good. we're talking about mobile phones. >> yeah. >> do you think people can guess we're talking about the iphone 5. you're waiting for 5. >> you'll about the 10, ladies and gentlemen, blackberry 10. is it the rim lazarus move? >> we saw stocks get w
concern. one in two young people in spain and greece is out of work. >> we need social investment now. otherwise, we will see a decline in our economic potential and much larger social costs in the future. >> he also said that labor market reforms and improvements to welfare systems could make eurozone countries more resilience in the face of further economic shots. >> as mentioned in that report, young people have been hit hardest by the ongoing weakness in the eurozone's labor market. in spain, well over half of people under the age of 25 are out of work. >> one way the spanish government is trying to deal with that is it is attempting to improve its vocational educational system, and to do so, it is looking for guidance to germany, which has a successful and traditional jobs training program. >> these apprentices are the avant-garde of a new spanish generation. they are getting professional training and germany's combined work experience and school system. that means they get more on the job training and less theory. spanish training courses of traditionally focused on the classroo
is a spanish instrument and the lyrics are from spain and the type of song is indigenous and the type of percussion can is african. >> (inaudible). >> yeah, you could hear in the music. it has that pitch and that sadness to it. >> (inaudible). >> okay. so can you play the first song? we will show you a little bit and then you guys can come up and dance. (music). (applause). (music) >>
and academics. contribute with us to change history, history which reminds us of our links with spain, with the united kingdom, with spain, with italy. the more recent history which reminds us of our links before 1940, -- the european union is now making a big effort in certain areas and in terms of development and cooperation. year, proud of its outreach, of its convictions, of the thinking which it has given the world. it's responsive to the world problems. there is what it has embarked on side by side with countries. people must know that the countries -- it cannot close its borders. it cannot turn off the tap of its generosity in its brain power. that is what can be put into a world, one which is more morally economic, one which is safer in environmental times, more democratic. haiti, strengthened and fortified by this friendship, which is seeking to throw off the status quo and cliches, which is to break the chains of underdevelopment and to exorcise its demons. my administration has been at it along the way, but no one can deny our good faith. this year, in haiti, once again, we
italy roughly unchanged at 4.23%. spain was about 5.2% earlier and has backed up quite a bit since being under 5% a week or two back. 10-year gilt is coming in and you can tell investors aren't too bothered by net credit fell inching up slightly year on year. recapping one of our top stories today, the bank of japan delivered pretty much what markets were looking for. bold moves doubling its inflation target to 2%. but the boj switched to open-ended easing saying it will buy $145 billion of assets each month starting in 2014. the moves do follow heavy pressure from shinzo abe despite reflation and a flagging economy. but the yen actually settled higher with some economists. look at that. that is suggesting they ended up almost 1.2% above the dollar. there's questions whether the 2% dollar stated can be achieved. now there's plenty more on the boj's inflation packed with the government live. hi. >> hi, kelly. the bank of japan and the government issued a joint statement that set a 2% inflation target today replacing its current 1% price. from japan's monetary policy has shifted into unexp
.8%. the ftse mib, down 50.1 points. we saw yields lower in italy and spain. a little higher today. nevertheless, spanish yields 5.05%. ten-year italian yields, 4.3%. treshy yields, 1.8%. dollar/yen this morning, 87.14. kind of where we were this time yesterday. saucy dollar/u.s. dollar 1.0503. doll sterling/dollar, 11.6236. euro/dollar, 1.3166. kind of where we were yesterday. asian markets in china and japan will be catching up on news on the u.s. fiscal cliff deal. we'll get december sales figures from japan's retailing. the owner of stores are set to release its q1 earnings today. samsung electronics is expected to post its q4 earnings guidance. that's all on the agenda in asia. but what investors are to do with what we've got so far this year? joining us now, nicholas. these are the classic risk off day yesterday. how do you categorize it and what it means for -- >> well, i mean, obviously, you know, i think it's important to be clear that this was a rally not based -- based not on what the deal did, but what the deal undid. clearly, the good news is that the u.s. americansful
a memoriam for man we will spain rod drying guess and he was one of the district's most colorful andby loved artist and is with robert crumb influenced generations of cartoonists and not only in the mission but throughout the city and born in new york to an italian artist mother mr. rod drying guess dropped his first name in favor of spain passionate about his latino heritage created murals with crumb in the late 1960's and 70s, in in addition, to zap economics his works include biographygraphy and dark hotel online graphic novellings, spain was working on a graphic story for the 2004 san francisco hotel workers strike, so, we would like to ask that we adjourn the meeting today in his memory. i also have another item as you know as a city, we have been working with other cities to deal with the issue of homelessness within our veteran population. we have been involved with the hundred days campaign to house veterans in 2012. president obama established a goal to end veteran's homelessness by 2015 which i think is doable and the department of housing and urban development came together to
trip to the employment office and another rejection. it is dramatic in countries like spain. they are raising the alarm. employment has skyrocketed. nearly 200 million people were without work get organization expects that number to increase by 5 million during the current year. the ilo says new jobs cannot be created because of the faltering economy and they are urging politicians to do more, for example implementing stimulus programs. >> they support training and retraining for young people in one of the groups hardest hit by the crisis. one-third of the 24 year old's have been without work for six months or longer. let them out to a tug of war that has lasted for years and it seems to becoming to a compromise. eurozone finance ministers gave 11 countries including germany, france, italy, and spain the right to tax financial transactions. >> this will help prevent another crisis from happening. >> highly speculative transactions allowed huge amounts of money to be made or lost, but a transaction tax to make them more attractive in a number of eu states. many opposed an eu
with recession. spain and italy are going to be in actual recession and i think the imf's latest update is much closer to reality. i still think they -- the only upside surprise i can see happening is spain. but given the unemployment, it's only temporary. >> that's europe. now, there's a big discussion ing in the uk with regard to europe. tomorrow, we're going to get the first glimpse at fourth quarter gdp. having looked through the data that we've seen, are we expecting an exit close to that? >> i fear so. i think it's just the economy is very weak. but what i'd like to focus on is what's going to happen to investments in the next couple of years. if they're going ahead with the spread of a new referendum, people used to talk about the uncertainty hanging over europe or because of the fiscal cliff. this is going to be a real dagger in any british recovery. >> it's interesting, i spoke to lord brown who is now with str consulting. he told me -- and i've asked him to send me this survey. he told me last night that they have a survey of international companies who tell me they think it would be
or bodies. and in spain, seashells have revealed faint traces of hematite, or iron ore, a red mineral often used as pigment. neatly pierced holes allow the decorated shells to be worn as ornaments. anthropologist joao zilhao believes the evidence offers a glimpse into the neanderthal mind. now, he is reexamining finds from a neanderthal site in spain excavated in the '80s. zilhao: this is a fragment of a naturally pointed horse bone and when we looked at the tip of the bone under the microscope we found that there was lots of reddish dots. narrator: although so faded they are hard to see the chemical analysis proves the spots are the red pigment hematite. and there is more. zilhao: this shell is from the mediterranean oyster and you can see adhering to the inner side of the shell a remnant of a pigment which is black and reflective. narrator: zilhao has found a pencil-like sliver of bone with a red mineral at its tip, and a shell stained with a shiny pigment alongside other fragments of colored minerals. it adds up to a significant collection, or so zilhao believes.
spain but other countries in the eurozone, and an awful lot of supply coming. if at some point that starts to reapply pressure to the peripheral bond markets and you see yields going up, you're back into this risk of episode. does it last, maybe not. then the ecb and omt come into play. that's an untested mechanism at this point. >> i wonder, is there anything to the notion of zigging when l alcoa zags? the company starts thing opposite to how earning season turns out. >> i think there is a risk that earnings season disappoint. given that they if anything narj mally beat what was -- marginally beat what was expected. but as i say, it's a long road. >> for sure. we don't really get into the thick of earnings season for a good couple of weeks this time around. charlie will stay with us. and we are later going to discuss what's going on with boeing's dreamliner flights. just now, japan's all nippon airways has canceled a domestic flight due to brake problems on a boeing 787. comes amid a spate of similar reports. we'll have more detail and explore the story further in the next ho
. >> yeah. be careful. >>> spain could be given more time to meet its equity targets. stephane is in madrid probably running away from the french employment minister bearing in mind his remarks. is that why you got out of france, because it's bankrupt, stephane? >> no. i went out of france for tax reasons. you know that. spain might be even more trying to reduce its public deficit over the next couple of years. european officials will not make a decision until next month when they will assess the spanish austerity program on the 22nd of january. it was explained that europe information would have to take into account the growth prospect of the fiscal space for each country in europe and could, indeed, soften the spanish deficit target if the economy continues to contract. that's precisely what we are expecting because for the fourth quarter, we are expecting the spanish gdp to shrink by 0.4%. for the time being, spain has a deficit target of 4.5% for 2013. that seems to be really ambitious if not out of reach. because to meet this new target, the government would need to find $20 billion of
will hold. 4.1% in italy. there will be a couple of italian debt auctions later this morning. spain, 5.16% is the level there. bunds, 1.63%, so we have seen them move out a little bit. in the u.s., earnings will include exxon. nymex and brent are down this morning. nymex by 0.1%. brent by 0.4%. great stories and illustration in the "financial times" today talking about shale burn as more of that sail oil production has increased. but gas outflows are big. you can see them the way you might see the city of minneapolis and the city of chicago. that's raising plenty of questions. over here, gold is continuing to sell off, down 1.6%. it's been under pressure for the last couple of weeks as growth prospects around the world have actually started to perk up a little bit. copper, though, is just fractionally lower, too. so it's different, perhaps, than what's happening with global demand. quick check off forex, we know the sterling has been weaker, but now another 0.4% against the dollars. 1.57 is the level there. it was shortly a go above 1.60. australian dollar, weaker, too. the dollar/yen,
of work in spain as they endure the second recession in three years. greg palkot reports that spain joins greece trying to revive an economy on life support. >> new year for spain. but is there is little for the lively european country to celebrate. unemployment is over 26%, the worst since the '70s. joblessness among young people is over 55%. spaniards, under 25, have little hope. >> it's 2012 was a bad year, you can imagine the prospects that spaniards have. nothing. at the end, we all have to leave, just like our parents did to immigrate. >> strange recession worsened too. economic growth down last year. budget cuts and tax hikes to avoid a full-scale bail-out accord og the efforts are hurting short-term recovery. with backing from the european central bank might offer long-term hope. bond sales to write down spain's debt went well. >> we are getting indicators that it's slowly adjusting. start to turn in the coming quarter. >> greece might be building on a couple of years of austerit austerity. the country is qualifying for e.u. bail-out money. 2013 is bringing more protests. young an
. and we have something to watch today in spain, as well. it's the first bond auction of the year for the al beeran company. the treasury is slashing the debt market up to 5 billion euros since 2013. lloyd's expects a positive results with the first take up. it will be the first issue to feature a collective action clause, designed to make it easier for the government to restructure debt in the case of future crisis. and president obama is expected to make the final touches to his second term economic team today. cnbc's john harwood has more on the changes coming to the u.s. treasury department. >> president obama has already filled out the members of his national security team for the second term. now he's filling out the economic term for a second term including his choice for treasury secretary. later today, we expect the president is going to appoint his current white house chief of staff jack lou as current treasury secretary. jack lew is a veteran of capitol hill and of more than one big major budget negotiations which is exactly what the president is facing right now. he's
. >> on that note, james will stay with us. we want to get some news out of spain, too. that country is set to start its new year with bond auctions. this year, the government must raise more than $2 million billion euros in debt. the treasury's funding this year is being outlined in madrid as we speak. as we get details on that, we'll absolutely bring them to you. we're talking about nations showing up and saying, give us the help. but spain hasn't even had to go that far. >> the spanish base can get some of on their money if they declare official emergencies. what they're trying to do is to avoid saying we really need the help, we're in trouble. all these countries, as the situation continues, it's clear they won't appear to be the only ones to call the situation off. and the spanish are aware of the fact that everyone else is aware of. we can deal with these countries. spain itself is a significantly different issue. this is a european problem, a potentially fatal one, but one that the spanish isn't really up to. >> can we still get beyond the german elections before there is any activation of th
here, it was basically a decade of no growth in portugal. in the case of spain, it was a bubble in real estate that was financed by mainly the savings and loan institutions, some of which have gone under, a number have gone under, and a government that basically drove up the deficit and regional governments -- because regions are very important in spain -- also drove up in this problem with big deficits. and they weren't attended to. and so in each one of these you have somewhat of a different reason. the case of italy, a debt to gdp of over 120% and growing and the lack of action in trying to do anything about it by the former government, monte came in as a technician. and, by the way, their period of time is limited because they have no popular support vis-a-vis an election with will it be -- whether it be greece or italy as we've seen this. and as you know, there'll be elections in italy, and we'll see how monti does. but you need popular mandates to get these changes really through. i'm encouraged in the case of ireland, they're making good progress getting back to the market, but t
-- are in much worse shape. >> unemployment lines have never been so long. spain stands out as one of the examples. they have had one of the biggest rises. more than half of the young people are unemployed. there's a difference between countries. unemployment rises faster and heading higher levels at the center of the eurozone financial crisis. spain has the highest unemployment rate. greece is close behind. portugal and cyprus have unemployment problems that are serious and getting worse. in the strong economies is another story. there have been job losses in some. the problem looks manageable in the netherlands and germany were the figures improved over the year and in austria which has the lowest unemployment rate. there are some underlying challenges. the rising numbers of jobless and welfare costs ar. >> they are going through this transition. >> the figures and show one exception to this divergence between the strong and weak economies. ireland, the second year as a nation to receive a bailout. political leaders can take some comfort from the fact unemployment fell. >> the id
40 is up .5%. we keep our focus in the next half hour on the bond auction out of spain. we dip below for the first time since march last year. we'll see where we go with this auction. we're looking to auction up 4.5 billion of 2015, 2018 and 20411. if this auction goes fairly well, then they will have issued 9% of their total issuan plans for medium term debt. they are taking advantage of these lower yields that we continue to see and narrow spreads, as well. so we'll keep our eye on these as we go through. on the currency markets, euro/dollar, the euro has been up to 30-month highs against the swiss franc. trying to crawl back some gains. dollar/yen, 88.84. today the yen is a little weaker today on japanese reports minister's saying he was regretful his comments will be misinterpreted. aussie/dollar, 1.0517. we begin to focus on what's going on in rio. let's bring you up to speed with the rest of the news out of asia. li sixuan joins us for the first time out of singapore. >> thank you, ross. asian markets finished on a difficult note. the shanghai composite lost about 1% today, ext
from spain, some of them with the spanish royal armies; other irish influx arrived from the u.s. for the construction of railroads used to transport sugar cane to the sugar plantations. that was at the end of the 19th century. and then at the beginning of the 20th century, we're talking 1902, 1910, before odono that i mentioned before, this man who gave his name to -- he was very proud of this lighthouse. the cubans offer hospitality to general alexander alejandro o'reilly. he rose through the ranks of the spanish army. the spanish sent alexander o'reilly to cuba to form a militia. he was appointed governor of louisiana and head of the army later on. he arrived in august, 1769, and took formal possession of louisiana for spain. think of new orleans and cuba, in particular havana, governors there were also in cuba so there was all this traveling from one city to another because later when i got my ph.d. from tulaine university and i went to the irish channel. it's interesting, the irish history connected with new orleans. so the o'reilly family has been in louisiana for centuri
for into religious and intercultural dialogue. the three founding nations -- saudi arabia, spain, and austria -- were represented by their foreign ministers. among the 600 guests was the united nations secretary- general. the saudi government provided some 15 million euros in funding for the dialogue center for the first three years. >> we are most grateful to his majesty for his farsighted decision to launch this important and timely initiative. austria is greatly honored at the center is established. >> a outside the palace, greens and liberal muslim protesters point out that even as saudi arabia promotes religious dialogue in vienna, and to commit human rights abuses at home. >> it is a shame and a disgrace for austria and spain to have provided the saudis a center like this as a platform for their views in europe and all the world. >> the center is headquartered in this palace in vienna. representatives of all the world religions are invited to come here and engage in constructive dialogue. critics are predicting endless rounds of unproductive chatter and worry that saudi arabia could indeed use
. within the zone, spain showed the highest rate. it rose from 26.6% in spain. many young people out of work under half of those under 25 were jobless in the month. up 0.7 points since october. in portugal, unemployment stood at 16.3%. 14.6% in ireland. for greece, latest data up only to september. the jobless rate in that month, 26%. 0.7 percentage points higher than in august. >>> smoke from electry call fire filled the cabin of a boeing 787 at a boston airport. it was preparing for its next flight no. one was injured. a mechanic spotted smoke rising from the back of the aircraft at logan international airport. the plane had flown in from japan. all 172 passengers and 11 crew members had disembarked. firefighters found flames coming from a battery pack under the passenger's compartment and put out the fire. the battery starts the auxiliary power unit. it supplies electricity while the aircraft is parked. investigators from the ntsb are looking into the case. the 787 is boeing's newest aircraft. japan airlines began flying it on some routes late last month. japan's transport ministe
a circulation war how about a real war with spain. it began with hurst offering a reward for information on the sinking of the uss main in havana harbor. nobody else knew for sure who sunk the maine. but hurst set off to convince the american people that spain was the culprit. he was there with a gang of hurst reporters who went there to report and sometimes create the news. when fredrick remmington on assignment in cuba told hurst he wanted to go home because nothing was going on. hurst gave him that famous line, you supply the pictures, i supply the war. >> television is the median today that newspapers was then. while television has quality news segment it's basically an entertainment based median. i think when there was no tv and there was no radio and you were basically inventing mass media. entertainment had to be a major component of what was there. i see a lot of what was being done then as creating the idea of mass media. >> reporter: on april 15, 1906 the great quake and fire led waste to the city. hurst home lay in ruins. how would hurst handle this stupendous story. in a fren
children in spain. it is the church has taken several times before. she used to need permission to leave the island. this time, it will be different. starting on monday, they are easing travel rules and cubans will be able to come and go as they like. >> now have a lot more personal freedom. people will be more in control because we can decide when and where to travel. >> garcia and her husband are thinking of are spending most of their time in spain. people who were away for 11 months we still losing their home and residency status. now they can stay away as long as two years. >> i'm not going to lose my house unless i want to sell it myself. >> and make travel easier all cubans, most of whom have never left the island. before the change, they were barred from travel unless they were emigrated and they had to have a letter of invitation before they could leave. they still need a visa, but by eliminating exit visas, this could leave many to apply for passports for the first time. >> it makes it easier for them to leave the island and those who want to travel back and forth to other count
to green projects for companies that are based in spain. in spain, germany, france, italy, japan. isn't this money supposed to help american companies? proponants say the money helped create american jobs, but you say this is total misuse of taxpayers' money. how so? >> i just think the government shouldn't be picking winners and losers. i'm sorry in the energy field. we have natural gas creating jobs. solar and wind are pipe dreams. companies overseas may be doing it cheaper and better in places like china.it i don't even care if it is less than $4 billion. i don't like the idea of the phoniness of the administration saying we will create jobs here when backdooring money overseas. >> rick, i think bottom line is the government is lousy at making investment decisions with our money. >> it will would be a disyou are iting report. a disturbing report. all of these companies and there is one exception, all of the companies are united states subsidiaries of southern companies. now letie me give you an example of a u.s. subsidiary of a foreign company. we are sitting in one. until nine yea
coming from northern spain, you can see what's happening here. persistent snowfall spread novillas, spain. forcing several residents to leave their home. it spilled into wide swaths of farmland. the winter storm claimed three lives. low-lying areas on the river continue to flood. snow covers the upper elevations, making travel dangerous. i want to show you the situation now. the iberian peninsula, flanked by two low-pressure systems, this one to the south, bringing sleety conditions and snow as well. a lot of it will be rain and thunderstorms and definitely snow to the north and coming into france here. this is going to be heading toward the balkan peninsula, the southern storm. it's quite warm in the southeast, so a lot of the precipitation is rain for you. by the time the storm arrives on wednesday, a lot of frigid air coming down to the southeast. turning that down to snow in the mountains, with thunderstorms along the coast. all right. let's check out your temperatures for wednesday. minus 6 in stockholm, minus 16 in kiev and minus 5 for the my. athens, minus 15 degrees. and expect to
of titles in melvin since the 1960's. he made short work of spain and will find out tomorrow if his -- his opponent is. the women's final is already set. >> more news in a minute. >> welcome back. germany's second-biggest bank is wielding that acts. commerzbank says it will cut up to 6000 jobs over the next few years. >> it had to be billed out during the financial crisis, and it has struggled ever since. it is still partly owned by the german taxpayer. >> commerzbank employees are worried. as many as one in nine are set to lose their jobs. those most at risk our employees in the retail branches, which management say are overstaffed. the german trade union says it will fight the plans. >> they've put forward some numbers. now, the national and local work councils need to agree on a strategy for how to save as many jobs as possible. >> the cuts are part of a huge restructuring program announced by the ceo last november. the program also calls for jobs to be outsourced to lower-cost areas. it said the plan will save the bank billions, money which could be invested in more profitable activiti
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